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Varga: 2015 GDP growth to reach 3%

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Hungary's GDP growth rate is expected to rise 0.5-0.6 percentage point over the 2.5% target for next year if oil prices remain low, with a probability of reaching 3%, National Economy Minister Mihály Varga announced today.

According to the economy minister, if Hungary's $8.5-9 bln energy deficit is reduced by one-third in the coming year, the economy could become much more competitive.

Varga’s GDP projection was confirmed by analysts at TakarékBank, who expect the country’s economy to grow 2.8% next year, chief analyst Gergely Suppan said at a press conference on Wednesday.

TakarékBank puts average annual inflation at 1.4% for 2015, due to the risk of energy price changes. It sees average annual CPI climbing to 2.7%, close to the central bank's 3% "price stability" target, in 2016.

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